US Beef Exports remain high in July
Beef exports from the United States reached 104,488 metric tons (mt) in July, with a 5% increase year-over-year. Export value rose to 623.7 million dollars, by 18% compared to the previous year and it was the highest since December 2014.
In the first seven months of 2017, exports reported an increase of 11% in volume (711,364 mt) and 15 percent in value ($3.97 billion) compared to the first seven months of last year.
Exports accounted for 13.2% of total U.S. beef production in July and 10.7% for muscle cuts only. These were the highest ratios of 2017, but down from 14.2% and 11%, respectively, last July. For January through July, beef exports accounted for 12.8% of total production and 10% for muscle cuts – roughly steady with last year. Export value per head of fed slaughter averaged $299.21 in July, up more than $35 (or 13%) from a year ago. Through July, per-head export value was up 9% to $273.52.
“July was certainly a solid month, especially for beef exports, but these results remind us that the U.S. red meat industry operates in an intensely competitive global environment,” said USMEF CEO Philip Seng.
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